IT services company Sonata Software has acquired a controlling stake in Rezopia, a cloud-based travel management platform.
The terms of the deal were not announced. However, president of Rezopia, Nirav Chhatrapati told Tnooz that the acquisition stake is in the range of 50%-60%.
Rezopia is a cloud-based platform that enables travel companies to manage their end-to-end reservation process, contracts, operations, and distribution systems.
CEO of Sonata, Srikar Reddy, says:
"We believe the Rezopia Platform combined with its strong management team and travel domain specialists will further strengthen our competitive position in the travel vertical."
Chhatrapati comments about the value Rezopia adds to Sonata Software:
"Sonata was primarily building bespoke custom solutions for clients before. With Rezopia, Sonata now has access to a next generation travel ERP software with proven success in the wholesaler and rail business. This acquisition will enable Sonata stay ahead of the curve in offering its customers the flexibility and innovation that a combination of next-gen platform based IT offerings and mainstream IT services can bring."
Rezopia's customers include Queensland Rail (replaced a large GDS provider with its own rail reservation platform), DiscoverBranson, and Resortime.
CEO of Rezopia, Rakesh Hegde, says:
"I am proud of the accomplishments of my team. Even with bootstrap funding, we have been able to replace large incumbent legacy system providers with our technology. With this deal we look forward to scaling and taking the Rezopia product to even greater heights."
Also, Sonata Software has fully acquired XYKA (owned by the same founders of Rezopia), the primary IT services company to Rezopia.
XYKA is a well known travel tech services company in India with customers including STA Travel, Houseoftours, Adventurelink, and Blueskytours.
Sonata Software is a listed company on the Indian stock exchange and has over 2,600 employees worldwide.
Following completion of the deal, Rezopia and XYKA’s 75-member team will join Sonata Software.
NB: Disclosure - the author worked at Rezopia during 2011.